Therapeutic Bed Market To Witness Growth Based On Increase In The Volume Of Healthcare Settings Across The Globe Till 2024: Grand View Research, Inc.
The global therapeutic bed market is expected to reach USD
4.1 billion by 2024, according to a new report by Grand View Research, Inc. The
growing geriatric population base coupled with the rising cases of obesity,
chronic conditions, and viral infections are expected to boost market growth
over the forecast period.
As per the U.S. Bureau of Labor
Statistics, the rank of home health aides and personal care aides is expected
to increase to 13.0 million in 2020 (a 70.0% increase from 2010), thereby
increasing the demand for home care. This growth is expected to increase the
sale of household therapeutic beds and propel growth over the forecast period.
Considering that the treatment costs at home are lower than other settings,
many patients are now preferring home healthcare, thus, ultimately increasing
the demand for therapeutic beds in these facilities.
Another macro factor promoting
the Therapeutic Bed Market is the increase in the volume of healthcare settings
across the globe. With the help of this grant, 17 new hospitals and the
expansion of 137 hospitals and primary health centers are anticipated, thereby
increasing the sale of therapeutic beds. Similarly, in Qatar, the number of
hospital beds is expected to rise from 4,980 in 2013 to 5,725 in 2018. These
expansions are expected to create new avenues for market players to capitalize
on.
Browse full research report on Therapeutic Bed Market: http://www.grandviewresearch.com/industry-analysis/therapeutic-beds-market
Further key findings from
the study suggest:
- The household bed segment is identified as the
fastest growing. The growing penetration of home healthcare services for
preventive care, post-operative care, and for long-term chronic therapies
are expected to drive the growth over the forecast period.
- Clinical beds have been further sub-segmented into
regular, ICU, pediatric, birthing, bariatric, low air loss, and other
beds. Bariatric beds are expected to gain the highest application in
regions such as the U.S., Canada, the UK, and Germany due to the rising
number of obese population.
- North America is expected to dominate the overall
market throughout the forecast period, owing to the presence of
well-developed primary, secondary, tertiary care hospitals, the presence
of a well-developed reimbursement network, government funding, and high
public and private expenditure in the hospitals sector
- Asia Pacific is anticipated to be the fastest growing
region. The market is expected to grow at a CAGR of about 7.0% over the
forecast period. The hospital to beds ratio is below the WHO standards in
several Asia Pacific countries and the governments are investing
significant resources to improve the healthcare infrastructure in this
region.
- Key players of the industry include Invacare
Corporation, Hill-Rom, Inc., Stryker Corporation, ArjoHuntleigh, Gendron,
Inc., Hard Manufacturing Co., Bakare, Medline Industries, Sunrise Medical,
and GF Health Products, Inc. Most of these companies have been in the
business for over a decade and are bringing in expertise and technological
advancement that are expected to help them sustain over the forecast
period.
- In order to curb competition, major market players
are working towards the acquisition of emerging entrants. For instance, in
January 2015, Stryker Corporation acquired the assets of CHG hospital
Beds, Inc., a privately held company to enhance the low height bed designs
portfolio.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented Therapeutic Bed Market on
the basis of products, type, and region
Global Therapeutic Beds Product Outlook (Revenue, USD
Million, 2014 - 2024)
- Clinical
Beds:
- Regular
Beds
- ICU
Beds
- Pediatric
Beds
- Birthing
Beds
- Bariatric
Beds
- Low
Air Loss Beds
- Others
- Household
Beds
- Accessories
Global Therapeutic Beds Type Outlook (Revenue, USD
Million, 2014 - 2024)
- Acute
Care
- Critical
Care
- Long-term
Therapeutic Beds Regional Outlook (Revenue, USD Million,
2014 - 2024)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Argentina
- MEA
- South
Africa
- Saudi
Arabia
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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